Tag: Financial markets

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National

Veteran N.C. Congressman Watt gets Federal Housing Finance Agency nod

President Barack Obama announces his nominee for the Federal Housing Finance Agency, Rep. Mel Watt, D-N.C., Wednesday, May 1, in the State Dining of the White House in Washington. (AP Photo/Jacquelyn Martin) WASHINGTON (AP) —President Barack Obama on Wednesday tapped a veteran Democratic congressman to lead the Federal Housing Finance Agency and a top fundraiser and former lobbyist to head up the Federal Communications Commission.

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Business

Bankruptcy expert named Detroit emergency manager

NEW EMERGENCY MANAGER–Michigan Gov. Rick Snyder announced March 14, that Kevyn Orr, a bankruptcy expert who represented automaker Chrysler LLC during its successful restructuring, has been named Detroit’s emergency manager. (AP Photo/Courtesy Jones Day) by Corey Williams Associated Press Writer DETROIT (AP) — A bankruptcy expert who represented Chrysler during its successful restructuring has been chosen to steer Detroit out of the financial abyss that has swallowed the distressed city, which was once one of the nation’s most prosperous.